Exports flat in Feb, trade deficit grows to $13 bn as imports rise

NEW DELHI: India's merchandise exports in February totalled 27.67 billion dollars, down 0.25% from 27.74 billion dollars in the year-ago period, official data showed on Tuesday.

On the other hand, imports increased by 6.98% to 40.55 billion dollars from 37.9 bilion dollars in February 2020.

Thus the trade deficit widened to 12.88 billion dollars in February 2021 as compared to 10.16 billion dollars in February 2020, the Ministry of Commerce and Industry said in a statement.

From April to February, exports totalled 255.9 billion dollars as compared to 291.8 billion dollars during the same period of last year, marking a negative growth of 12.32%.

The imports declined by 23% to 340.8 billion dollars as compared to 443.2 billion dollars in the same period.

The value of non-petroleum exports last month was 25.1 billion dollars, up 3.55% over February 2020 while oil imports were down by 16.63% to 8.9 billion dollars as compared to 10.7 billion dollars in February 2020.

Non-oil imports in February 2021 were estimated at 31.5 billion dollars as compared to 27.1 billion dollars in February 2020, showing an increase of 16.37%.